Toei sells shares to Ashai

World Brief

Producer-distrib Toei has sold 19.7 million shares worth ¥12.9 billion ($111.2 million) to the TV Asahi web, and four other companies, making TV Asahi the lead shareholder with 11.3%.

Toei’s the second-biggest shareholder in TV Asahi with 16% and partners with the web in program production and other areas.

The other four buying Toei shares are Sumitomo Mitsui bank, Tohokushinsha, Asahi Broadcasting and Itoen.

Osaka-based TV Asahi is one of Japan’s five major commercial networks.

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